Tickets going fast as Paul Shamplina joins Landlord Sales Agency’s David Coughlin for the first time in The Ultimate Landlord Show

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It’s the upcoming online event that’s got everyone talking, and with just days to go, if you’re a landlord, now is the time to make sure you’ve registered your ticket to attend.

This Wednesday 26^th May, see LandlordZONE’s Paul Shamplina and David Coughlin, two of the biggest titans in the Landlord sector, share their secrets, reveal the truth behind how to generate wealth and success right now, and weigh in on answering some of the most important Landlord questions you should be asking.

The event promises to cover everything from the boom in house prices, gazumped buyers and dives deep into exactly why a surge of Landlords are wanting to get out of the market and sell their portfolios, and how they’ve overcome eviction bans and delays. Plus find out why right now is an opportunity for Landlords that happens only once every 20 years.

Places are limited, so if you’re a landlord you’ll want to make sure you’re part of the action. To register your FREE VIP ticket, only available via LandlordZONE click on the link below:

https://attendee.gotowebinar.com/register/2393536073481700110

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Tickets going fast as Paul Shamplina joins Landlord Sales Agency’s David Coughlin for the first time in The Ultimate Landlord Show | LandlordZONE.

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LATEST: Councils ask ministers to tackle rent arrears as evictions ban end looms

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London boroughs have warned of an imminent summer wave of homelessness in the capital as the end of the evictions ban looms.

Homelessness previously peaked in 2005 when there were 63,800 households in temporary accommodation, but with 60,680 London households already in temporary accommodation, boroughs fear new records could be set this year unless the government increases investment in homelessness prevention.

London Councils points to a triple whammy of upcoming risks: high unemployment and rent arrears, the lifting of the eviction ban on 31st May, and uncertainty over homelessness funding.

Even before the pandemic, it had highlighted the unsustainable growth of homelessness costs in the capital, spending £1.1 billion on homelessness services in 2019/20.  

It estimates there are 165,000 homeless Londoners living in borough-provided temporary accommodation, accounting for two-thirds of England’s total. 

Almost 70% of London households in temporary accommodation have at least one child, with the most recent figures putting the figure at 90,000 children.

Councillor Darren Rodwell (pictured), London Councils’ executive member for housing and planning, says: “Boroughs are doing everything we can to tackle homelessness in the capital, but ultimately we need the government to rethink its welfare policies and to boost long-term funding for local services if we’re to reverse these disastrous trends.”

London Councils is calling on the government to confirm both short-term and long-term funding arrangements, to end the five-week wait for Universal Credit payments to begin and to make sure Local Housing Allowance continues to match the cost of renting in London.

It also wants it to restore government funding for councils’ local welfare assistance schemes supporting residents in financial crisis and – with 243,000 London households on boroughs’ housing waiting lists – to improve councils’ resources for building social housing.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Councils ask ministers to tackle rent arrears as evictions ban end looms | LandlordZONE.

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‘White paper will usher in biggest changes to private rented sector in 30 years’

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Many landlords may not realise it, but within 18 months those operating in England and Wales will have to register with a redress scheme, be recorded on national database and embrace a new, portable ‘lifetime deposit’ for tenants in order to be legal.

That assumes the government’s renting reform White Paper, which is being published this Autumn, turns the proposals outlined in the Queen’s Speech into legislation as planned, most likely in early 2023 but maybe sooner, and usher in the biggest changes to the private rented sector for over 30 years including the much-discussed ban on Section 21 notice evictions, as the NRLA’s Ben Beadle (pictured) puts it.

“We urge the Government and all others in the sector to use the time they now have to ensure that the reforms are fair and workable for both tenants and landlords,” he says.

Both redress and a landlord database will require substantial bureaucracies and funding to operate effectively and will bring usher in substantial new red tape for landlords to navigate.

“The Queens Speech talks of enhancing the rights of those who rent with a desire from the UK government to introduce a set of measures to ‘hold bad landlords to account’,” says Timothy Douglas, Policy Manager, Propertymark.

Propertymark has long campaigned for a database of rogue landlords and property agents operated by MHCLG to become publicly available.

It says this is important to help National Trading Standards, the redress schemes and local authorities join up the circle of intelligence for enforcement; landlords and tenants need to know if they are renting or letting through a banned agent and agencies will be able to vet future employees.

“With regards to ensuring all tenants have a right to redress, the UK Government must prevent ‘double jeopardy’ and only extend redress membership to landlords who do not use an agent to fully manage their property,” says Douglas (pictured).

“There were also hints of a landlord register [in the Queens Speech], but the UK Government must ensure existing data across the sector is not duplicated and there is a joined-up approach.”

Complicated

There are similar worries about the government’s ‘lifetime deposits’ proposals which, although laudable, are likely to be complicated to implement.

“Whilst we will work constructively on the detail of the proposal, it is vital that the new system in no way discourages landlords from making valid claims for damage to properties,” the NRLA says. “It is especially important that at no point in the process under such a scheme is a landlord faced with a tenant not covered by a full deposit.

“This could arise when a tenant transitions from one rental property to another, and where part or all of the deposit they paid is required or is being disputed as a result of damage to a property. The scheme must protect the new landlord under such circumstances.”

Sean Hooker, who is Head of Redress at the PRS (pictured), recommends bringing together the existing elements already in place and plugging the gaps, without having to reinvent the wheel and set up a “whole new system at potentially great cost and burden to the sector”, he says.

“Some form of unified register is definitely needed, so tenants and enforcement agencies can identify who landlords are and the properties they rent out, redress should be available for all tenants regardless of whether the property is managed by an landlord or an agent or whether there is deposit involved, or a no deposit alternative or nothing is in place.

“Once this framework is set up it would be a relatively easy task, through data sharing with for example the deposit schemes, redress schemes, client money protection insurers and local authority licencing, for a comprehensive list to be produced with little need for a separate process for most landlords or agents to undertake.”

Publicly accessible

Hooker says that from this base things like property condition reports and a publicly accessible rogue landlord and agent list would be relatively easy to incorporate.

“You could also look to have a single access to complaints which the Redress Reform Group was looking at and yes, the regulation of property agents.”

The one exception to the database will be that Wales already has one via its Rent Smart scheme.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – ‘White paper will usher in biggest changes to private rented sector in 30 years’ | LandlordZONE.

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Office of Tax Simplification recommends 60 days to pay CGT

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The Office of Tax Simplification’s (OTS) second report recommends that the government consider extending the reporting and payment deadline for the UK Property tax return from 30 days to 60 days. Click here

The second report said:

Around 150,000 individuals make a disposal of UK residential property each year

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‘Give property sellers more time to pay their CGT’ says official report

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An official review of the Capital Gains Tax (GGT) has recommended that those selling property should be given 60 rather than 30 days to report and pay their CGT or that estate agents and conveyancers should mandated to distribute information to their clients about the tax.

This is the recommendation from the Office of Tax Simplification (OTS), which has now published its second report on CGT following initial recommendations published in November last year.

This would give the 150,000 people who report their property sale to the tax authorities each year more time to work out if they are due to pay CGT, and for the 85,000 who are usually liable to pay it more time to file their UK Property tax return.

“The former approach would simply create a longer window, and the latter more subtly by making taxpayers aware of their obligations earlier on and so giving them more time to prepare in advance of the sale,” its report says.

“The predicted cash flow effect on the Exchequer in the 2021-22 tax year of extending the deadline to 60 days in estimated to be approximately £105 million.

“The cost would come down significantly in subsequent tax years, and this figure needs to be considered in the context of the £935 million that this policy change raised in tax year 2020-21.”

Chris Norris, Policy Director (pictured) of the National Residential Landlords Association says: “Landlords should always ensure they meet all legally required deadlines to pay tax.

“That said, today’s report from the Office for Tax Simplification demonstrates a woeful lack of communication and consideration by HMRC about what is expected of those liable for the tax.

“It adds weight to the argument that the seemingly arbitrary, 30-day deadline has created more problems than it solves.  We would support the OTS in recommending an extension to 60 days to avoid landlords missing a shorter deadline, potentially through no fault of their own.”

There are three main ways of reporting a capital gain – through Self Assessment, the UK Property tax return, and the ‘real time’ Capital Gains Tax service.

The OTS has recommended changes to each of these but the” overarching recommendation is that these should be brought together in the Single Customer Account”.

Read the report in full.

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